$2,250,000
Updated 5 years ago
Off Market

521 Eastern Parkway

Crown Heights, Brooklyn | Rogers Ave & Nostrand Ave

15 Rooms9 Beds5.5 Baths3,372 Square FeetMulti-Family

$2,250,000
floors / apts3 / 3
Lot Size25'x105'
Built Size20'x55'
ZoneR6A
Building TypeTownhouse
RE Taxes$6,942
Price Per SF
$667

Listing Features

  • Original Details
  • Radiator
  • Window AC Units

Outdoor space and views

  • Backyard
  • Frontyard

Building Amenities

  • Voice Intercom
  • Garden
  • Gated Entry

Property Description for 521 Eastern Parkway

Build an additional 4,500 square feet to this three-family townhouse located between Nostrand and Rogers Avenues. The possibilities are endless. Live in the duplex unit with private outdoor space and collect $7000 in rental income each month from two units. With 20% down and a 3% interest rate, your monthly mortgage payment is $7,589. But with the rental income, it will only be $589 a month. Enjoy the comforts of modern living mixed in with the many period details still intact such as original hardwood floors, built-ins, and crown molding throughout the home. Feel like having more passive income, rent out all three units and collect $138,000 a year with a projected 5.1% cap rate that will continuously go up each year. Because you can build a total of 7,930 sq feet, there is tremendous upside and potential at 521 Eastern Parkway. Being that the building is in place and you are not building from the ground up makes this an ideal condominium conversion project with a lucrative sellout. The house comes with fully drawn architect plans to take advantage of all the air rights and potential of the home. You can save a lot of time and money by building days after closing on the house. Contact me for Rent Roll and Income/Expense Sheet. This 20' x 55' limestone sits on a 25' x 105' lot in the best part of Crown Heights. Located on bucolic Eastern Parkway, nestled between the Children's Museum, The Botanical Garden, Prospect Park, and bustling Nostrand and Franklin Avenue. The 2, 3 and 4, and 5 trains are at your doorstep, making getting anywhere a breeze.

Listing History for 521 Eastern Parkway

Now
10/29/2021
POM by Ronit Abraham
Compass
10/06/2021
$2,250,000
Initial Price by Ronit Abraham
Compass

Building Details for 521 Eastern Parkway

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1910
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

Nostrand Av
0.04 miles
President St-Medgar Evers College
0.16 miles
Franklin Av-Medgar Evers College
0.37 miles
Botanic Garden
0.42 miles
Park Pl
0.46 miles

Citi Bike

Lincoln Pl & Nostrand Ave
0.05 miles
Eastern Pkwy & Nostrand Ave
0.06 miles

Contact Agents

Contact Agents

Crown Heights | Brooklyn

Quick Profile

Originally known as Crown Hill by the Lenape Indians that lived there, Crown Heights has evolved into a diverse neighborhood, occupied primarily by Hasidic Jews and one of the largest Caribbean populations to be found anywhere outside of the West Indies. 

Head over to Nostrand Avenue, one of the main West Indian commercial areas in the neighborhood, which is lined with stores that have been in those exact same places for generations, providing their goods and services to area residents. Kingston Avenue has similar commercial activities that support the Jewish community, and Franklin Avenue shows the most signs of change and gentrification, with an ever-expanding mix of yoga studios, coffee shops, and organic grocery stores that serve the influx of young professionals. No matter which of these areas you visit, you will find an interesting mix of businesses that you wouldn’t normally picture as existing side-by-side. It is all part of the cultural diversity of Crown Heights.

The neighborhood is bisected, from east to west, by Eastern Parkway, which is a beautiful, 3-mile-long boulevard lined with mature trees. This leafy oasis was designed by Frederick Law Olmsted, famed designer of Central Park, the Biltmore Estate in North Carolina, and the U. S. Capitol in Washington, D. C.

You will find a mix of low-rise apartment buildings, large middle-class elevator buildings, brownstones, and some luxury buildings. Century-old architecture stands next to modern residential developments in a visually interesting mix of styles, much as the diversity of the residents exists. People who would not normally meet and mix are forging new pathways to cultural understanding by working, living, and playing together in the same neighborhood.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 60210TH